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Cowen and Company Portfolio holdings

AUM $2.97B
1-Year Est. Return 105.26%
This Fund
S&P 500
This Quarter Est. Return
-16.31%
1 Year Est. Return
+105.26%
3 Year Est. Return
+120.05%
5 Year Est. Return
+670.56%
10 Year Est. Return
–
AUM
$435M
AUM Growth
-$716M
Cap. Flow
-$763M
Cap. Flow %
-175.1%
Top 10 Hldgs %
44.16%
Holding
647
New
200
Increased
86
Reduced
96
Closed
246

Top Buys

Rank Stock Value
1
XOM icon
ExxonMobil
XOM
+$28M
2
MTCH icon
Match Group
MTCH
+$22.1M
3
DFNS.U
LGL Systems Acquisition Corp. Units
DFNS.U
+$13.2M
4
AVDL
Avadel Pharmaceuticals
AVDL
+$11.7M
5
ABUS icon
Arbutus Biopharma
ABUS
+$9.21M

Top Sells

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$238M
2
AAPL icon
Apple
AAPL
+$158M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$77M
4
FRC
First Republic Bank
FRC
+$42.3M
5
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$37.6M

Sector Composition

Rank Sector Weight
1 Healthcare 16.59%
2 Financials 12.01%
3 Communication Services 5.9%
4 Energy 5.73%
5 Consumer Discretionary 4.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LHC.WS
301
DELISTED
Leo Holdings Corp. Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exe
LHC.WS
$38K 0.01%
59,317
-2,899
-5% -$2.86K
XBI icon
302
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$35K 0.01%
7,200
-102,800
-93% -$9.1M
ONC
303
CALL
BeOne Medicines Ltd
ONC
$40.6B
$34K 0.01%
+10,800
New +$1.69M
GDX icon
304
VanEck Gold Miners ETF
GDX
$27.5B
$32K 0.01%
1,388
-29,829
-96% -$816K
UKOMW
305
DELISTED
Ucommune International Ltd Warrant
UKOMW
$32K 0.01%
498,050
-450
-0.1% -$33
GBT
306
CALL
DELISTED
Global Blood Therapeutics, Inc.
GBT
$32K 0.01%
+10,600
New +$710K
ALACR
307
DELISTED
Alberton Acquisition Corp Rights
ALACR
$29K 0.01%
153,050
-900
-0.6% -$172
CY
308
PUT
DELISTED
Cypress Semiconductor
CY
$29K 0.01%
+42,500
New +$972K
KPLTW
309
DELISTED
Katapult Holdings Warrant
KPLTW
$27K 0.01%
+45,429
New +$45.1K
GSMGW
310
DELISTED
Cheer Holding, Inc. Warrant expiring 2/13/2025
GSMGW
$27K 0.01%
+343,800
New +$14.2K
NSCO.WS
311
DELISTED
Nesco Holdings, Inc. Warrants, exerciseable for Common Stock
NSCO.WS
$27K 0.01%
151,480
+40,180
+36% +$14.4K
RMG.WS
312
DELISTED
RMG Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A Common Stoc
RMG.WS
$27K 0.01%
42,764
-100,900
-70% -$67.4K
AMT icon
313
CALL
American Tower
AMT
$79B
$26K 0.01%
+40,000
New +$9.31M
SAND
314
CALL
DELISTED
Sandstorm Gold
SAND
$26K 0.01%
+28,300
New +$181K
GLEO.WS
315
DELISTED
Galileo Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one Ordinary Share
GLEO.WS
$25K 0.01%
99,400
+84,700
+576% +$37.1K
CZR icon
316
CALL
Caesars Entertainment
CZR
$6.06B
$24K 0.01%
+100,000
New +$4.68M
LACQW
317
DELISTED
Leisure Acquisition Corp. Warrant
LACQW
$24K 0.01%
+140,224
New +$105K
PRDO icon
318
CALL
Perdoceo Education
PRDO
$1.95B
$23K 0.01%
+72,000
New +$1.12M
TLT icon
319
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$23K 0.01%
+14,500
New +$2.16M
AVYA
320
CALL
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
$23K 0.01%
24,000
– –
ORSNR
321
DELISTED
Orisun Acquisition Corp. Right
ORSNR
$23K 0.01%
129,400
– –
HYACW
322
DELISTED
Haymaker Acquisition Corp. II Warrant
HYACW
$22K 0.01%
21,101
-15,065
-42% -$23K
SHLL.WS
323
DELISTED
Tortoise Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common
SHLL.WS
$22K 0.01%
80,000
+45,280
+130% +$20.6K
SWCH
324
PUT
DELISTED
Switch, Inc. Class A Common Stock
SWCH
$21K ﹤0.01%
25,900
-64,100
-71% -$975K
TOTAR
325
DELISTED
Tottenham Acquisition I Limited Right expiring 3/6/2021
TOTAR
$21K ﹤0.01%
188,479
-25,900
-12% -$4.17K
11 12
13
14 15

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PWLP
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FPCG
Fort Pitt Capital Group Pittsburgh, Pennsylvania $3.55B AUM 34.86% 1-Year Est. Return
SI
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BC
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FTDI
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CIM
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PRO
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Cowen and Company's Q1 2020 Portfolio in Review

As of Q1 2020, Cowen and Company held 647 positions worth $435M, down 62% from $1.15B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Cowen and Company withdrew a net $763M in Q1 2020, closing 246 positions and reducing 96 holdings. Its most notable exit was Apple, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 4.9% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Cowen and Company opened a new position in Match Group worth $19.8M.

  • Cowen and Company's largest Q1 2020 buy was Match Group: 300,000 shares worth $19.8M.
  • Cowen and Company added most to ExxonMobil in Q1 2020, an estimated $28M increase.
  • Cowen and Company's biggest Q1 2020 reduction was Invesco QQQ Trust, cutting an estimated $238M.
  • Cowen and Company fully exited Apple in Q1 2020, selling an estimated $158M.
  • Cowen and Company's ten largest holdings make up 44% of its $435M portfolio in Q1 2020.
  • Cowen and Company opened 200 new positions and closed 246 in Q1 2020.
  • Cowen and Company's portfolio value fell 62% quarter-over-quarter to $435M.

Based on Cowen and Company's 13F filing for Q1 2020, filed 11 May 2020.